XLU Options History — March 2009

In March 2009, XLU traded between $11.37 and $13.16. ATM implied volatility averaged 37.4%, placing in the 14.6% IV rank vs the trailing year. The 30-day expected move averaged 10.6%. IV traded above realized volatility by 6.1% (HV 20d: 31.3%). Max pain ranged from $12.00 to $14.00. Net GEX was positive for 18 of 22 trading days. Term structure was in contango for 5 of 22 days. Put/call ratio averaged 0.83.

Notable Days

  • 2009-03-05: Highest Volume — 324,638 contracts
  • 2009-03-05: Largest IV spike — 27.1% change
  • 2009-03-09: Highest IV Rank — 19.4%
  • 2009-03-05: Largest Expected Move — 12.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$12.28$11.37$13.16$12.28$12.78
Max Pain$12.66$12.00$14.00$14.00$12.50
ATM IV37.4%31.1%45.7%38.3%32.6%
Expected Move10.6%8.9%12.8%11.0%9.3%
HV 20d31.3%27.1%35.4%27.1%29.8%
HV 60d26.7%25.4%28.2%25.9%27.6%
IV Rank14.6%11.0%19.4%15.1%11.8%
IV Percentile72.6%57.1%84.5%78.2%61.5%
Term Structure-1.4%-3.9%1.7%-1.5%0.8%
VWIV36.2%31.4%44.5%38.6%33.7%
Skew 25d7.1%4.2%12.3%10.4%4.6%
Skew 10d13.9%9.7%21.2%15.5%20.7%
Call IV 25d34.0%27.6%40.3%35.9%31.8%
Put IV 25d41.1%34.6%50.5%46.3%36.4%
Bid-Ask Spread %15.5511.5420.2814.0415.95
Gamma HHI0.520.190.750.220.54
Net GEX13.7M-2.2M24.0M-2.2M23.9M
Net DEX-172.8M-467.5M117.2M107.0M-368.9M
Net VEX-1.2M-1.9M-223.6K-283.7K-1.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.830.043.993.992.79
Total Volume47,235.7272,614324,63815,2907,252
Total OI671,182.455196,290925,736196,706843,420

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-03-02$12.28$14.0038.3%11.0%27.1%15.1%38.6%10.4%-1.5%-2.2M107.0M-283.7K3.9914.043,06212,22863,766132,940
2009-03-03$11.84$14.0039.1%11.2%28.3%15.6%33.9%10.3%-2.1%-1.9M112.7M-247.2K1.3715.661,4702,00864,308131,982
2009-03-04$11.95$14.0035.2%10.1%28.7%13.3%31.4%11.1%-0.5%-2.2M112.4M-244.0K0.3612.085,9062,14864,646132,906
2009-03-05$11.61$14.0044.7%12.8%28.6%18.9%44.5%12.3%-3.7%-1.7M117.2M-223.6K0.0413.58310,69013,94865,140133,644
2009-03-06$11.59$12.5045.1%11.8%28.1%19.1%38.4%9.2%-3.3%7.4M14.8M-646.4K0.2213.4724,8785,384370,154142,490
2009-03-09$11.37$12.5045.7%12.1%27.2%19.4%40.3%7.8%-3.9%6.9M36.1M-617.7K0.0814.6219,9401,620395,176146,184
2009-03-10$11.52$12.5043.9%11.7%28.7%18.4%39.5%6.4%-3.9%8.3M16.0M-641.1K1.3313.981,6682,214398,908145,090
2009-03-11$11.50$12.5043.0%11.8%28.4%17.9%39.6%5.8%-2.9%7.5M22.0M-614.5K0.1011.54242,38623,372384,610145,976
2009-03-12$11.65$12.5039.0%11.2%29.5%15.6%36.4%5.0%-2.4%13.5M-70.8M-1.3M0.1813.3347,7408,434626,062168,822
2009-03-13$11.81$12.0036.9%10.6%30.8%14.4%38.5%6.7%-1.4%16.0M-111.7M-1.5M1.1812.832,6443,124670,986172,326
2009-03-16$12.13$12.0038.4%11.0%33.3%15.2%38.0%6.2%-2.6%17.7M-174.0M-1.5M0.7416.416,3684,688662,320174,620
2009-03-17$12.32$12.0035.9%10.3%31.4%13.8%36.3%6.6%-2.3%18.9M-220.4M-1.6M0.2520.283,816938665,222175,906
2009-03-18$12.72$12.0036.5%10.5%33.7%14.1%35.8%6.6%-1.8%19.6M-307.7M-1.7M1.2617.7131,43239,626665,576176,218
2009-03-19$12.90$12.0035.2%10.1%34.1%13.4%34.8%6.2%-0.9%19.0M-347.6M-1.8M0.1219.3488,83410,240688,732210,274
2009-03-20$12.68$12.5037.2%10.7%33.8%14.5%37.1%5.7%-1.8%20.4M-324.3M-1.9M1.0315.5928,72029,564712,434213,302
2009-03-23$13.16$12.5032.8%9.4%35.4%12.0%32.6%6.5%0.1%19.2M-467.5M-1.8M0.5419.615,5382,978647,568179,316
2009-03-24$12.88$12.5032.7%9.4%34.8%11.9%33.1%5.7%0.3%21.5M-402.4M-1.8M0.7914.971,4601,154651,150181,636
2009-03-25$12.88$12.5032.7%9.4%34.8%11.9%32.1%4.2%-0.4%22.3M-385.9M-1.8M0.0818.074,384358651,530181,926
2009-03-26$13.03$12.5031.1%8.9%34.5%11.0%33.1%7.1%1.7%21.3M-438.6M-1.8M0.6617.903,6162,376654,088182,196
2009-03-27$12.90$12.5031.8%9.1%34.2%11.4%33.3%5.6%1.1%22.8M-395.0M-1.8M0.5317.7213,8267,264653,916184,088
2009-03-30$12.64$12.5035.7%10.2%32.9%13.6%36.0%5.1%-0.4%24.0M-324.4M-1.8M0.6113.486,1283,762663,944190,516
2009-03-31$12.78$12.5032.6%9.3%29.8%11.8%33.7%4.6%0.8%23.9M-368.9M-1.7M2.7915.951,9165,336649,792193,628